The share price of Indo Amine, a chemical manufacturing company jumped by a whopping 19.65% to a price of Rs. 119.65 per share.
The share is approaching a 52-week all-time high of Rs. 121.9 which was back on April 29th of this year. The stock opened at Rs 120.05 apiece on Thursday.
Indo Amines has significantly defied the broader market’s mood, as benchmark equity indices Nifty50 and Sensex slipped 0.15% each.
The company recently received environmental clearance for the expansion of Synthetic Organic Chemical manufacturing plants situated in the Thane and Dhule districts in Maharashtra.
The two manufacturing units are located in MIDC Badlapur and MIDC Avdhan Taluka.
Indo Amines recorded a staggering 269.4% jump in net profit on A Quarter on Quarter (QoQ) basis for the June 2022 quarter. Their total income rose by YoY and 20.6% QoQ to Rs 258.9 crore in the period. Its revenue from operations jumped 46% YoY in the quarter.
YoY and 20.6% QoQ to Rs 258.9 crore in the period. Its revenue from operations jumped 46% YoY in the quarter.
The company’s management said, “We are happy to share the amazing growth figures. We will keep strengthening our position and extending into untapped new markets. In the current year, we have maintained our growth trajectory and enhanced our EBITDA margins.”
“We have also contributed significantly to the global ESG and sustainability movement and shown climate consciousness. Strategic partnerships and our advanced capabilities put us in a good position to sustain growth, add value to our clients, and maximize shareholder value”, they added.
